O-LevelEconomicsMicroeconomic decision makers2281/12 · Oct/Nov 2019 · Q131 Mark

Which combination of characteristics correctly describes a monopoly?

Abarriers to entry: high, economies of scale: possible

Bbarriers to entry: high, economies of scale: impossible

Cbarriers to entry: low, economies of scale: possible

Dbarriers to entry: low, economies of scale: impossible

✓ Correct answer

A: barriers to entry: high, economies of scale: possible

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2019 Paper 1 Variant 2, question 13.

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